Chevron (NYSE:CVX) Price Target Cut to $171.00 by Analysts at Barclays

Chevron (NYSE:CVX) had its price target lowered by Barclays from $174.00 to $171.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

A number of other equities research analysts also recently issued reports on CVX. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday. Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

NYSE CVX opened at $153.01 on Wednesday. The business’s 50-day moving average price is $152.79 and its 200 day moving average price is $150.89. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $274.98 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 earnings per share. On average, research analysts predict that Chevron will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.47%. Chevron’s dividend payout ratio is currently 67.08%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter worth approximately $25,000. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the third quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the third quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the 3rd quarter worth about $31,000. 72.42% of the stock is currently owned by institutional investors.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.